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Agree on most of that. However, I do not think energy is the European problem. It's painful, for sure, but migration is something bigger politically (and see recent Economist on that). Russia did play a role in that, but it's the flawed system with which nobody is happy that drives the fringe parties to success.

As for housing crisis, that's something that is defined by how markets work currently - where political influence buys squeeze in building permits and good profits from speculating on this market buy political influence. And of course, there's dual market structure in many cities with subsidized housing that reduces pressure for reform for significant number of voters. We need a big political reboot to overcome that and transition from old party structure practically everywhere, it is already happening, it is uncomfortable to see due to uncertainties in this process, but it is good. The war may have some effect on that, accelerating the process.



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